Let's Talk Family Enterprise

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees. Description There is nothing quite like a global pandemic to cause us to pause and think about what really matters in our lives. Ruth Steverlynck sits down with author, coach, world record-breaker, and global resource for CEOs and Family Enterprises, Dave Phillips (dphillips.com), to explore why achieving success in life may not, in and of itself, be enough and practical steps we can take to figure out our authentic life purpose. Guest bio Dave Phillips, of Phillips Management Inc., is an experienced executive mentor and speaker for high-performance CEOs and business leaders across North America. His work covers topics ranging from the boardroom to the bedroom in some of the most challenging and even troubling areas of the leaders' lives. Dave not only supports CEOs and business leaders but also their teams to make a greater impact and provide long-term solutions to business leaders. Along with leadership mentoring and speaking engagements, Dave and the Phillips Management team have developed a variety of team-building tools and courses to support corporate teams for a variety of businesses. Regardless of your business size and revenue, the tools and capacity building programs Phillips Management offers will improve business communication and, in the long run, the overall health of the business. For Dave's full bio, click here. Key Takeaways [0:27] Ruth introduces fellow Vancouverite Dave Phillips and works down the list for only part of his impressive resume. [5:00] Ruth quotes part of the foreword in Dave's book, The Three Big Questions. She takes a moment to ask him why taking the time to know, understand and clearly define his overarching life purpose was more transformational than any of his personal or professional accomplishments. [6:00] They discuss the difference between "purposeful" versus "purpose for". Dave shares that the life purpose puzzle has three pieces. [9:28] There have been, since the beginning of humankind, overarching and common characteristics of what it means to be a person of substance and this is agreed upon, regardless of creed. Dave explains that these virtues are our greatest hope for legacy but hardly ever our primary focus. [11:50] Dave shares a story which starts when he broke the world record for the longest water-ski marathon (1300 miles). [20:11] Dave addresses the question, "What's my purpose?" and the value of finding that deeper sense of self. [22:11] Dave talks about being intentional about who you want to be in life, which may lead to finding a purpose. [23:04] Dave addresses the second question, "What is my mission?" and touches on how we can find what we're likely good at and may find satisfying. [24:11] Dave touches on the third question, "What is my vision?" [29:27] Dave shares some practical steps to get started if you're interested in finding more purpose, mission and vision for your life. [34:22] Dave explains how having a clear understanding of what your top three values are may inform more decisions than you would believe. "If you don't know who you are, you will become the sum of the expectations of those around you." [36:20] The three categories of values are as follows: identity values, competency values and activity values. Dave breaks down and defines each category. [39:00] Ruth asks Dave to share his advice to advisors: "To be mindful of: The money is not the client." He takes time to explain exactly what he means as well as how he goes about talking to his clients about it. [44:09] Ruth thanks Dave for coming on to the podcast to share so much of his wisdom and invites listeners to subscribe to the podcast. Share your thoughts with us at fea@family-enterprise-xchange.com Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange. Dave Phillips The Three Big Questions that Everyone Asks Sooner or Later, by Dave Phillips The Values Game will be made available in the Family Enterprise Exchange Monthly Digest. Lead Yourself First: Inspiring Leadership Through Solitude, by Raymond M. Kethledge and Michael S. Erwin More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. Description Following the recent merger of the Business Families Foundation (BFF) with the FEX Foundation to form the new Family Enterprise Foundation (FEF), host Steve Legler speaks with Nan-b de Gaspe Beaubien(C.M) who, with her husband Philippe, co-founded BFF in 1990 and is the current Co-Chair and Founder of the de Gaspe Beaubien Foundation. Together, they discuss the historical impact of BFF on the global stage of family business and the significance of this merger in not only advancing the platform for FEX and FEF, but also perpetuating the legacy started by the de Gaspe Beaubien family. Guest bio Nan-b de Gaspé Beaubien is co-chair of the de Gaspé Beaubien Foundation and devotes her time to philanthropic endeavours that continue to break new ground supporting environmental causes, enterprising families, enterprising women, public health and education. An internationally renowned expert on the topic of family enterprise, she is a regular speaker at global conferences and top universities worldwide. Along with her husband, she has given conferences and workshops at diverse organizations such as the Davos Economic Forum, Young Presidents' Organization, the Chief Executives Organization, Kellogg School at Northwestern University, Sauder at the University of British Columbia and Harvard Business School, amongst many others. For Nan-b's full bio, visit here Key Takeaways [0:16] Steve introduces Nan-b de Gaspé Beaubien and asks her to talk about the foundation of BFF (Business Families Foundation). [5:12] Nan-b shares the history of the first BFF events, hosting people from all over the world, as well as how they came about teaching family advisors — and the tools they built to effectively teach families and their advisors. [9:39] Nan-b talks about how the roadmap program launched and how the family business centres evolved from a board initiative as well as customer demand. [18:10] They discuss the recent announcement that BFF has merged with the FEX Foundation, as well as the importance of handing over the baton. [22:06] Nan-b touches on the satisfaction of a well-cared-for legacy. She also answers the question of if she would have done anything differently had she known what she does today. [27:30] It is important to bring experts from different fields together to advise families, using a common language. [29:29] Nan-b's book recommendation and advice from a seminal advisor to other advisors. [32:10] Steve thanks Nan-b for coming on to share her expertise and invites listeners to subscribe to the podcast. Share your thoughts with us at fea@family-enterprise-change.com Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange. Family Enterprise Foundation Books/articles: 12 Rules for Life, by Jordan Peterson More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. Description Steve Legler sits down with industry thought leader, consultant and lauded author, Kirby Rosplock to explore the "what" and "why" of Family Offices, as well as the trends in the Family Office space that FEAs can benefit from paying attention to. Guest bio Kirby Rosplock, Ph.D., is a recognized consultant, researcher, innovator, advisor, author, facilitator and speaker in the family business and family office realms. As the founder of Tamarind Partners, Inc., a research and consultancy practice that works with families, advisors and institutions connected to the family office market, Kirby provides leading-edge insights and knowledge to the family office domain. Working with families of wealth and enterprise, Dr. Rosplock understands the unique nuances and needs of families starting a family office versus those transitioning or unwinding them. To learn more about Dr. Rosplock visit Tamarind Partners or Rosplock.net Key Takeaways [0:16] Steve introduces Kirby and asks her to give a little bit of background on how she ended up working in the family office space. [2:49] Kirby touches on the role that Tamarind Partners fills with family businesses. [4:32] Kirby and Steve discuss what families may require a family office. [6:30] Kirby touches on the two greatest differences she's seen in the family office space in the past six years. [9:18] New wealth tends to happen earlier in a lifetime; Kirby touches on the differences in working in the mid-30s vs. 60s. [12:00] What does it take to operate a family office, and how does one prepare their children for it? [15:10] Kirby offers what advisors should be aware of and do since their range of skills can be broad and bump up against other people's domains. [18:37] Steve offers tips on what advisors can do to help their clients find clarity and understanding of all the different choices they have in terms of service provisioning. [19:29] Kirby offers that disclosure of conflict of interest is critical when operating a family office, then shares an example. [24:32] Kirby touches on the impacts of cybersecurity, AI and data management on family offices. Advisors can help in that respect by learning which questions to ask; Kirby shares a few as well as an interesting tip on letting families talking to each other! [31:00] Kirby shares her book recommendation and a piece of advice to advisors. [34:32] Steve thanks Kirby for coming on the podcast and sharing so much of her expertise. Subscribe to the podcast and share your thoughts with us at fea@family-enterprise-change.com Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange. Tamarind Partners Book: The Complete Family Office Handbook: A Guide for Affluent Families and the Advisors Who Serve Them, by Kirby Rosplock Family Offices: The STEP Handbook for Advisors, by Barbara R. Hauser and the Society of Trust and Estate Practitioners More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients. Description In this episode, Ruth Steverlynck sits down with Joan DiFuria, MFT and Stephen Goldbart, Ph.D, co-founders of the Money Meaning and Choices Institute. They discuss the psychological impact that life-altering wealth can have on individuals and families, and what families who are "getting it right" are doing that FEAs can meaningfully learn from to support and help the families they serve. Guest bio Joan DiFuria Co-founder of MFCC, Joan DiFuria has had considerable experience in both business and psychology, giving her a unique ability to provide balanced guidance to senior leaders in organizations. She addresses the very sensitive issues of wealth, philanthropy, meaningful careers, and developing family legacies with sensitivity and insight. Ms. DiFuria completed the Harvard Business School Program for Management Development including a degree in education and psychology. She has 18 years of experience as Director of Long-term Strategic Operations and National Marketing Director for one of the largest multinational corporations in the industrial metals distribution and commodities industry. Stephen Goldbart Co-Founder of MMCI, Stephen Goldbart has over 30 years of professional experience, is a licensed clinical psychologist, professor, author, public speaker, and organizational consultant. Dr. Goldbart also has a passion for working with complex family/organizational systems, helping to clarify purpose, make or remake structure, and find solution pathways. He has consulted with individuals, families, and organizations to help develop the fulfilling and sustainable balance of personal, professional, and philanthropic goals. Find out more about Stephen Goldbart and Joan DiFuria here. Key Takeaways [0:16] Ruth introduces Joan and Stephen, then opens up the conversation by offering to define wealth. [4:09] Stephen talks about the research that exists around the psychological impacts of life-changing wealth. [6:11] Joan takes a moment to break down the insight from the research for the audience, from breaking down taboos to clear decision-making processes. She touches on how they coined the term "Sudden Wealth Syndrome" and the response that it garnered. [9:50] Joan explains why family advisors should think holistically, because coming into great wealth comes with its own set of particular challenges. [13:41] Stephen talks about what 21st-century comprehensive planning is and what it looks like. [15:40] Ruth summarizes the overarching aspects an advisor should cover: the financial wealth, the human wealth of the family and the social impact that the family wants to have. [16:27] Joan touches on the importance of honing the ability to listen as an advisor. [17:10] Stephen speaks about the framework he and Joan have been building to guide families in this kind of planning, from talking to the wealth holders to drafting a set of operational values and finally engaging the entire family in the process. [19:20] Joan mentions that once the values have been isolated, action plans are developed and channelled into governance. [20:40] Stephen and Joan list off a few of the questions they've heard from members of the next generation. [24:11] Joan and Stephen talk about giving the next generation the opportunity to ask questions and share ideas. [28:20] Stephen talks about learning to know when to bring in other experts if the situation requires it. Joan and Stephen offer their tips on managing this kind of situation. [31:22] Joan and Stephen share their one piece of advice and book recommendations. [35:00] Ruth thanks Joan and Stephen for sharing so much of their expertise and resources. Share your thoughts with us at fea@family-enterprise-change.com Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange. Money, Meaning & Choice Institute The Purposeful Planning Institute Rendezvous Book recommendation: Family: The Compact Among Generations, by James E. Hughes, Jr. More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. Description Guest host Steve Legler speaks with FFI Fellow and family business consultant Ken McCracken about the importance of recognizing what our family business clients are doing right and avoiding jumping in with "best practices" and recommendations that don't fit the family or the business. Ken offers the idea of beginning any client intervention with "cautious observation" and then offers clients the benefit of those observations as a "reporter of sights" to the family. He then gives them some useful information that you, as an independent outsider, can reveal to them about their family and business systems. He also offers his views on family governance and whether or not everything needs to be formally documented for the family to succeed. Guest bio Ken McCracken, FFI Fellow, is a family business consultant and founder of McCracken Family Business Consulting in Edinburgh, Scotland. Ken teaches a Family Business Module on the STEP Professional Postgraduate Diploma in Private Wealth Advising and in 2016, he was named the "Family Business Adviser of the Year" by the Society of Trusts and Estate Practitioners. He is a former member of the Research Applied Board for the Family Business Review and is a current member of the 2020-2021 UK/Europe Regional Advisory Committee. In 2018, Ken chaired the FFI Global Conference in London. More information about Ken can be found here. Key Takeaways [0:16] Steve introduces Ken McCracken, author of the article, "The Natural Advantage of Family Businesses," and asks him to quickly explain what he means by advantage. [2:44] For a family business to have existed for a decade, they have to be doing something right, Ken invites advisors not to 'throw the baby out with the bathwater.' [4:17] Ken shares a mistake he made in his early days as an advisor. Which led him to humbly realize he had to come into every family with a learning mindset and give them the benefit of the doubt. [6:20] Ken and Steve touch on the role of advisors in helping families figure out exactly where they want to establish the boundaries between family and business. [9:04] Ken offers that cautious observation is a basic courtesy that should be extended to any new family an advisor would work with. [12:32] Steve talks revealing the system to itself and Ken follows with finding what 'better' means for each family. [14:50] Ken touches on adaptive incremental change — helping families get better at what they're doing already while also keeping the pace of generationally-propelled change manageable. [20:44] When it comes to natural governance, when do you write things down, if ever? [25:31] Ken's book recommendation and his advice as an advisor to another. [29:14] Steve thanks Ken for coming on to share his expertise and invites listeners to subscribe. Share your thoughts with us at fea@family-enterprise-change.com Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange. Books/articles: "The Natural Advantage of Family Businesses," by Ken McCracken Process Consultation: Its role in organization development, by Edgar Shein More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. Description In a time of crisis, as Family Enterprise Advisors (FEAs) we work hard to be the valuable and trusted resource to our client families. In his latest work, Borrowed from your Grandchildren, Dennis Jaffe reports on a research project where he interviewed family members from 100 global business families who had succeeded over more than three generations. The book shares their stories of continual reinvention and renewal, and how they responded to vast changes in their family and business worlds. Guest host Steve Legler sits down with Dennis to discuss ways that FEAs can use the wisdom gleaned from this research in service of their family enterprise clients as they face the COVID-19 pandemic. Guest bio For over 40 years, Dennis T. Jaffe has been one of the leading architects in the field of family enterprise consulting. As both an organizational consultant and clinical psychologist, he helps multi-generational families to develop governance practices that build the capability of next-generation leadership and ensure the ongoing capability of financial organizations and family offices to serve their family clients. He is also a Family Business Scholar at the Smith Family Business Initiative at Cornell University, a faculty advisor at the Ultra High Net Worth Institute, a regular contributor to Forbes Leadership channel, reporting on family cross-generational family business and wealth, and a professional member of the Society for Trust and Estate Planners (STEP). For 35 years, he was a Professor of Organizational Systems and Psychology at Saybrook University in San Francisco, where he is now Professor Emeritus. He received his B.A. in Philosophy, M.A. in Management and Ph.D. in Sociology from Yale University. More about Dennis here. Key Takeaways [0:16] Steve introduces Dennis Jaffe and asks his guest to explain the origin, nature and goal of his most recent book. [4:38] Dennis touches on the qualitative and narrative research used to build the theories and common themes covered in the book. [6:00] From facing a crisis head-on to having the ability to reinvent and redefine who you are as a family and as a business, Dennis shares some tips for family advisors derived from successful multi-generational family businesses. [10:04] Where does a family's energy for change come from? [12:11] Dennis touches on the notion of a Family Bank to invest and foster the next generation's ideas and creativity both for money-making and social impact ventures. [14:38] Advisors can be useful in ways that families may not ask or expect, Dennis shares a few examples of how this can manifest in the field. [19:06] "Which one of my kids is going to be the successor?" Dennis explains how and why, when looking at 100-year family businesses, this is the wrong question. He also explains the need to challenge the very questions people want help with. [22:40] First things first, coming out of this crisis: managing everyone's expectations that are no longer true… Dennis offers examples. [29:19] Everything will change with COVID-19; make sure you adapt and evolve. [31:21] Dennis shares his last piece of advice from one advisor to another as well as a book recommendation. [34:00] Steve thanks Dennis for his time and experience and invites listeners to subscribe and tune in for the next episode. Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange. Books: Borrowed From Your Grandchildren: The Evolution of 100-Year Family Enterprises, by Dennis T. Jaffe Ready or Not: Preparing Our Kids to Thrive in an Uncertain and Rapidly Changing World, by Madeline Levine More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn More about our guest Dennis T. Jaffe's website

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. Description At a time where uncertainty reigns for most of our clients, and ourselves, some things are certain. It is certainly true that we are all spending more times in our homes; it is certainly true that relationships are adapting to new realities and it is certainly true that we are experiencing far more anxiety than normal. Discussing how COVID-19 difficulties provide a significant opportunity for personal and professional development, Steve Legler, FEA, (shiftyourfamilybusiness.com) sits down with family therapist, Peter Vaughan, FEA, for some guidance with our own family circumstance, for our work as advisors and for the family enterprise clients we seek to help. Guest bio Peter Vaughan is a designated Family Enterprise Advisor, Registered Clinical Counsellor in the province of British Columbia, Canada and a Certified Gottman Method Therapist. He is also a Principal and Co-founder of Your Family Enterprise Advisors, Inc. (familyenterprisetherapy.com). His role on YFEA's multi-disciplinary team focuses on facilitation and analysis of interpersonal dynamics as applied to family enterprise governance, generational transitions of ownership, and management and interpersonal skills capacity building. Peter's style is direct, reality-focused, and comprehensive in addressing the personal and interpersonal facets of your life which help or hinder your success in relationships and living. The therapy that he practices is grounded in sound theory and research about individuals, couples and families. Key Takeaways [0:16] Steve introduces Peter Vaughan and launches the conversation with the interesting aspects of work and family balance especially as it pertains to FEAs during the COVID-19 pandemic. [5:10] Some of your clients may be more used to this jumbling of family and work together and this may be a great opportunity to learn. [8:41] Communication erodes when primary needs are triggered, Peter explains what this means in terms of security and significance and how these two primary needs are currently being triggered in different ways. [12:15] Peter and Steve talk about the differences between being overworked, or alternatively, having nothing significant to do — which is worse? [15:10] Peter discusses his thoughts about how some incompatibilities in this closed interaction with family members can be magnified. [19:21] If you sense defensiveness, you can be sure you've been perceived as criticizing. Peter touches on the skills required to defuse defensiveness and how this may be the best time to practice them. [21:20] What is positive affect? The first three minutes of an interaction can determine the emotional outcome of a conversation. [24:54] Peter offers some tips on how to start a difficult conversation and it can be as simple as an upfront declaration of goodwill and a show of honesty and love. [27:24] This crisis may just be the great equalizer in relationships and conversations; Peter explains how. [28:45] Peter raises a flag when it comes to the potential to over-engage in worry when control escapes us, especially when it comes to business leaders. [32:10] Learning is the key to coming out of this better and stronger than we came in as people and as advisors. Steve and Peter discuss the interesting aspects that can be discussed with families once the crisis has abated. [34:08] Peter shares his book recommendations and one piece of advice from an advisor to other advisors. [37:44] Steve thanks Peter for his time and experience and invites listeners to subscribe and tune in for the next episode. Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange Books: The Relationship Cure: A 5 Step Guide to Strengthening Your Marriage, Family, and Friendships, by Joan DeClaire and John M. Gottman More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn More about our guest Peter Vaughan on Your Family Enterprise Peter Vaughan on West Vancouver Therapy Peter Vaughan on Counselling BC

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients. Description Family enterprise clients rarely want to fail at wealth transition, yet the research finds that most do. Host Ruth Steverlynck sits down with Courtney Pullen, author of Intentional Wealth: How Families Build Legacies of Stewardship and Financial Health to take a deep dive on those families—the ten percent—that manage to build lasting patterns of emotional and financial health to see the common attributes that we as advisors can learn from to help our family enterprise clients with similar aspirations for a successful transition of their wealth. Guest bio Courtney Pullen, M.A., is the President of The Pullen Consulting Group. He has more than 25 years of experience in individual and family coaching, business and management consulting, leadership development, communication and team building. Pullen has lectured frequently, conducted numerous workshops and been published in the areas of individual and organizational change, behavioural finance, communication and family wealth dynamics. He is a former contributing editor to the Journal of Financial Planning and the Journal of Practical Estate Planning and is a faculty member of the Sudden Money Institute. He is also a graduate of the Newfield coaching program. His primary focus is as a consultant to financial services firms and affluent families. He recently published the best-selling book, Intentional Wealth: How Families Build Legacies of Stewardship and Financial Health. Key Takeaways [0:16] Ruth introduces Courtney Pullen and this episode's theme, the 10 percent, before a brief discussion about affluent families that fail. [3:16] Courtney touches on the difference that wealth actually makes in a family, as well as the importance of keeping in mind that all families have "stuff." [5:50] Ruth and Courtney discuss challenges that wealthy families face, such as material limits and boundaries, and societal treatment. Courtney also shares examples of value-based boundaries as well as some issues arising from being born into affluent families. [9:54] Courtney talks about some common themes that the interviews from his book highlighted regarding the creation of wealth versus receiving wealth. [11:09] Courtney shares a story of hope as well as some practical advice for advisors about "optimal frustration." [17:19] Courtney discusses how intentionality is the common denominator in G3+ families. [18:14] Courtney shares other common attributes that have a big impact on the successful transition of wealth, such as investing in the next generation, focusing on healthy communications and investing in the family as much as you do in the business. [22:54] How do you prepare people for receiving wealth they haven't earned? Courtney explains the delicate balance between denial vs. entitlement. [25:32] Courtney explains how everything he has mentioned is not yet common practice and wonders if this could be the cause of the dire 10 percent success statistics. [26:52] Individual pursuits and family businesses often do not align; Ruth and Courtney speak to the importance of building empowered family relationships. [28:40] There is no recipe, but change occurs in the direction of our attention and intention. [31:13] Ruth takes a moment to recap the important points that Courtney has brought to the podcast and asks him for a last piece of advice. [35:37] Courtney shares his reading suggestions. [37:14] Ruth thanks Courtney for his time and experience and invites listeners to subscribe and tune in for the next episode. Mentioned in this episode The Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange Pullen Consulting Intentional Wealth: How Families Build Legacies of Stewardship and Financial Health, by Courtney Pullen Mindset: The New Psychology of Success, by Carol Dwek More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn More about our guest Courtney Pullen's website

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. Description Steve Legler is our guest host today and he welcomes Mary Duke, Independent Family Advisor based in New York City to talk about human capital and the emergence of the Chief Learning Officer role for families. Guest bio Mary Duke is an internationally recognized advisor to families navigating the complexities of substantial wealth. Her work is anchored in the facilitation of family meetings, strategic planning for owned businesses, private trust companies and family offices and the education and mentoring of family members around the world. She is known for her deep expertise on the impact of trusts on families and her work in generational transition in family enterprises, and she is a licensed attorney and accountant. She has served in private client law and business consulting. Key Takeaways [0:16] Steve introduces Mary Duke and invites her to share a little background on the work she does as an advisor to families. [3:20] Mary touches on the predictable, but more importantly the less easy to anticipate events that may arise — especially in light of the fundamental change some economists are calling the intangible/4th/experience economy. [5:33] Mary talks about the underlying qualities one has to hone for long term success and helps family members practice them through experiential learning. [8:55] It's easy for families to grow apart, so Mary works at creating patterns of behaviour and helps families work better and make better decisions together. [10:20] On the challenges of getting the quiet voices in a family to be heard, as well as how to evolve in your role when advising a family. [12:45] Steve and Mary discuss when it may be time to bring in an outside person. [13:33] Mary explains what she means by human capital — but first, she talks about what a Chief Learning Officer (CLO) is and why it's a growing position, as well as some of the lessons we can apply to our families. [19:20] You have to invest both time and money in your human capital. [20:18] Mary's tips on how to grow and measure the individual human capital. [22:53] Mary's tips on how to effectively and soundly grow collectively. [25:36] Mary shares her thoughts on governance, what it is and how it can be used. [26:50] Steve asks what the Chief Learning Officer's job is. [29:08] Mary's parting thoughts. [30:06] Steve thanks Mary for her time and experience, then invites listeners to subscribe and tune in for the next episode. Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange "Growing your Family's Human Capital: Ten Lessons from the Emergence of the CLO" More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn More about our guest Mary Duke on LinkedIn

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients. Description Steve Legler is our guest host today and he welcomes Dr. Dawn Gross and Nancy Belza in order to learn how to better talk about death with clients. Guest bios Dr. Dawn Gross and Nancy Belza co-founded Dyalogues, along with their partner, Paul Puccinelli. Dawn Gross, MD. PhD. is a palliative medicine physician dedicated to transforming end-of-life conversations. Considered a national thought leader on end-of-life care, her work has been featured in Science, JAMA and The New York Times. Nancy Belza is a Relationship Manager, Business Development Consultant, Training Specialist and planning activist. She combines natural compassion and innate storytelling abilities with over 25 years of financial services industry experience and 15 years of mental health advocacy to help people face end-of-life planning prepared and empowered. Key Takeaways [0:16] Steve introduces Dr. Dawn Gross and Nancy Belza, and asks them why Family Enterprise Advisors should have an interest in learning how to talk about death, as well as some of the cultural barriers to those conversations. [5:35] Dawn and Nancy's work has a lot to do with the normalization of the discussions around death; they explain what that actually entails, from the knowledge vacuum to the semantic field. [9:45] Dyalogues was born out of personal experiences with death that Nancy wished to avoid for as many others as possible; she touches on how this personal story affected her view and how it shaped Dyalogues' mission. [12:40] Nancy highlights the privileged position Family Enterprise Advisors find themselves in and the crucial role they can play in helping the flow of communication in a family. She shares some advice on how to word your support and guidance. [15:30] Steve recaps the opportunities Nancy underlined, as well as the steps that were laid out for an advisor to follow. [16:30] Dawn invites people who are less comfortable, or do not wish to develop fluency in this field, to identify and reach out to experts in this area. [18:40] Steve shares how this resonates with him on a professional level and some surprising statistics he has heard before asking if the Dyalogues co-founders have some insight to share about them. [20:42] Nancy shares her thoughts on the recent conference she participated in with Millennials and how it should help shape discussions we begin about death or dying. [22:00] Steve asks if Nancy can share some background on "The Elephant in the Room" talk she gave at the Purposeful Planning Institute Conference in Denver. [23:59] Creating permission to start a conversation is the key to breaking down the taboos and building meaningful plans around death that grow and change with the individuals. [27:00] Nancy and Dawn share what services are offered by Dyalogues, including the ones specifically tailored to advisors. [29:40] While macroscopic cultural differences exist when it comes to engaging or avoiding death and the conversations around it, the necessity for preparation remains the same since each relationship is its own cultural ecosystem. [31:40] Nancy and Dawn share their parting tips. [33:18] Steve thanks Dawn and Nancy for their time and experience and invites listeners to subscribe and tune in for the next episode. Mentioned in this episode Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange Dyalogues Purposeful Planning Institute More about Family Enterprise Xchange Family Enterprise Xchange FEX on Facebook FEX on Twitter FEX on LinkedIn More about our guest Dr. Dawn M. Gross, M.D. at Dyalogues Nancy Belza at Dyalogues